First Interstate Bank today announced that, as a member of the Federal Home Loan Bank of Des Moines (FHLB Des Moines), it helped three partner organizations secure $10.4 million in Affordable Housing Program (AHP) grants in 2025. The AHP is a cornerstone of FHLB Des Moines’ mission to strengthen communities by funding housing for low- and moderate-income households. The awards will create and preserve 127 rental homes/units through new construction, rehabilitation, and transitional housing across Redmond, Oregon; Fort Thompson, South Dakota; and Sheridan, Wyoming.
The awarded projects are:
- Redmond, Oregon
Mountain View Community Development – Mountain View Community Village
Grant:$3,000,000
Impact: 75 new rental units to serve the community. - Fort Thompson, South Dakota
Crow Creek Housing Authority
Grants:- New Construction Project: $1,500,000 for 10 rental units
- Rehabilitation Project: $2,919,034 for 22 rental units
- Sheridan, Wyoming
Volunteers of America Northern Rockies – Transitional Homes
Grant:$3,000,000
Impact: 20 rental units providing transitional housing.
“We’re honored to work alongside FHLB Des Moines and our partners to bring these vital housing projects to life,” said Amberly Pahut, First Interstate’s director of community responsibility. “Together, we’re building affordable homes and hope across our region.”
About First Interstate:
First Interstate is a community bank headquartered in Billings, Montana, delivering best-in-class banking and Wealth Management services across Colorado, Idaho, Iowa, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oregon, South Dakota, Washington, and Wyoming. With nearly 300 offices, First Interstate enhances the communities it serves through an innovative corporate philanthropy program, which includes donating a portion of Company profits, matching employees’ personal financial contributions, and donating $10 per hour for volunteer efforts made at qualifying organizations.
